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5th BSP Oil Find In Brunei

Bandar Seri Begawan – Brunei Shell Petroleum Company Sdn Bhd (BSP) has recorded another milestone with the fifth successive oil discovery at the Seria Shallow Marine North Flank. BSP has achieved a one hundred percent exploration strike rate in this area.

The latest discovery, approximately one kilometre offshore the Anduki airfield, was drilled in October 2005 into anew structure to the east of earlier discoveries in the area. The discoveries were made at the northern flank of the Seria Structure in an area with water depth ranging from four to ten metres.

In total, more than 100 metres of net oil sands were found. The well will be completed in 2006, to provide early production from the Seria North Flank area. Evaluation work is underway to better determine the size of the discovery and production could possibly commence two to three years from now.

A BSP press release said the finding in the Seria field is expected to contribute to the company's overall production in the long run. At present, the Seria field produces 25,000 barrels per day.

Dr Grahaeme Henderson, Managing Director of BSP remarked, "This is the latest in a series of exciting discoveries in an area

which will be an important contributor to the future of the oil production of Brunei Darussalam, and boosting BSP's existing oil position."

Dr Henderson went on to say, "To achieve a discovery strike rate of five out of five wells drilled is an impressive feat. It is the result of the highly specialist skills and expertise of our exploration team, and the many other staff across the Company who actively support them from behind the scenes. Based on the success of the Seria North Flank exploration campaign, we are now accelerating development in the area," he said.

Dr Henderson added, "The challenge now is to sustain these successes through continuously adding to and highgrading this portfolio, and fast-tracking further exploration, appraisal and development of the Seria North Flank."

In 2006-7, BSP is planning to drill up to five more exploratory appraisal offshore wells into the Seria North Flank area from a land based drilling location to delineate total potential of the Seria North Flank. Producible discoveries would be hooked up to the Seria Field production facilities. -- Courtesy of Borneo Bulletin

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